“We are pleased to announce our first 3D NAND chip targeted for production,” said Dr. Siva Sivaram, executive vice president, memory technology, SanDisk. “This is the world’s first 256 Gb X3 chip, developed using our industry-leading 48-layer BiCS technology1 and demonstrating SanDisk’s continued leadership in X3 technology. We will use this chip to deliver compelling storage solutions for our customers.”

BiCS is a nonvolatile memory architecture designed to bring new levels of density, scalability and performance to flash-based devices. BiCS NAND memory will also provide enhanced write/erase endurance, write speeds and energy efficiency relative to conventional 2D NAND.

SanDisk’s 256 Gb X3 BiCS chip is designed for wide applicability in consumer, client, mobile and enterprise products, and is expected to begin shipping in SanDisk’s products in 2016.

About SanDisk

SanDisk Corporation (NASDAQ: SNDK), a Fortune 500 and S&P 500 company, is a global leader in flash storage solutions. For more than 27 years, SanDisk has expanded the possibilities of storage, providing trusted and innovative products that have transformed the electronics industry. Today, SanDisk’s quality, state-of-the-art solutions are at the heart of many of the world's largest data centers, and embedded in advanced smartphones, tablets and PCs. SanDisk’s consumer products are available at hundreds of thousands of retail stores worldwide. For more information, visit www.sandisk.com.

This news release contains certain forward-looking statements, including expectations for 3D NAND technology, including its development, production timing, expected timing for shipment of SanDisk products to begin in 2016, capabilities, performance improvements and anticipated product applications that are based on our current expectations and involve numerous risks and uncertainties that may cause these forward-looking statements to be inaccurate. Risks that may cause these forward-looking statements to be inaccurate include among others: our 3D NAND technology or our solutions and products utilizing this new technology may not be available when we expect and shipment may not commence when expected; our 3D NAND technology may not perform as expected; we may experience difficulties or delays in developing, producing or ramping with acceptable yields our 3D NAND technology in the timeline we expect, including as a result of supply chain difficulties or delays, or failure to manage risks associated with our ventures and strategic partnerships with Toshiba, or the other risks detailed from time-to-time in our Securities and Exchange Commission filings and reports, including, but not limited to, our most recent quarterly report on Form 10-Q and our annual report on Form 10-K. We do not intend to update the information contained in this news release.